Aspirin Prices, Chart, News, Trend, Historical and Forecast Data

Aspirin Prices:

In Q1 2024, the North American aspirin market experienced a volatile pricing environment characterized by a mixture of upward and downward trends. Early in the quarter, prices declined due to economic uncertainty and cautious consumer spending. Pharmaceutical companies also stockpiled inventory before the New Year, contributing to the initial drop. However, mid-quarter saw a price rebound driven by constrained warehousing capacity, disruptions in key maritime routes, and seasonal influences such as the Chinese spring festival. By the end of the quarter, prices fell again due to declining business sentiment, inventory buildup, and cost-saving measures implemented by pharmaceutical companies.

In the Asia-Pacific (APAC) region, aspirin prices experienced a pronounced downward trend throughout Q1 2024. China saw a substantial decline due to decreased inquiries and orders from key end-user industries such as healthcare and pharmaceuticals. The Spring Festival resulted in temporary business closures, which contributed to an oversupply in the market. In addition to this, ongoing contraction in the manufacturing sector and a broader global economic slowdown further dampened demand for Chinese exports. The overall market sentiment was negative, driven by high inventory levels, sluggish consumer spending, and cautious purchasing behavior in response to economic uncertainties, as well as a challenging market environment.

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In Europe, the aspirin market experienced a predominantly downward pricing trend throughout Q1 2024, despite some underlying positive factors. The primary driver of this decline was weakened consumer sentiment, coupled with an oversupply situation in the domestic market. Anticipation of increased demand related to the Chinese lunar year prompted substantial inventory accumulation, exacerbating the oversupply issues. Moreover, the European central bank’s decision to maintain interest rates impacted consumer purchasing power, further contributing to the pricing pressures. Throughout the quarter, prices continued to decrease, although efforts to manage shipping tensions in the Red Sea led to reduced freight rates, which helped mitigate some of the cost pressures on the market.

Source: IMARC Group